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leaves hawaii for washington, tension on capitol hill is on high. >> i don't see how you could handle a large plant involving tax reform in a matter of days. >> serious doubt is setting in. even starbucks is getting involved. john boehner said he is sitting this round out. >> i think that john boehner is being controlled unfortunately by the right wing pickwick that leaves it up to harry reid and the rest of the senate to find a solution. the plan would avoid tax increases and would eliminate some big spending cuts and restore unemployment benefits. >> you are likely to see a two- step process. >> without a deal, bush era tax cuts will expire on january 1. congress set up the deadline hoping it would force a compromise. so far that has a compromise in. also flyback will be brian schatz. he will be replacing daniel inouye and will likely be sworn in later today. danielle leigh, wbal-tv 11 news. >> with the new year comes new state laws. >> kim dacey has more on what to expect. >> on tuesday, a dozen new state laws will go into effect. some were highly discuss. one allows gay couples to
stays in hawaii. he will head back later this evening. he did take out with the first lady to express gratitude with service members on behalf of the nation. >> we know it's not easy, but what we also want you to know is you have the entire country behind you and all of us understand that we would be nowhere without the extraordinary service that you provide. i want to say thank you and we love you. >> kristen welker is live in honolulu. it's early in the morning there, but president obama traveling home to d.c. 10:00 p.m. hawaii time. there doesn't seem to be a lot of urgency rarg the fiscal cliff. are they geared up and ready to work on this? >> i think they are. they are hoping that the pressure to get something done will encourage everyone to come to the table to compromise. if you think about it, they have less than a week to get a deal to avoid the fiscal cliff. not a lot of time. how did we get to this point? taking you back to last week, you remember john boehner tried to get that alternative bill through the house. his own bill. he didn't have the support to do it. it fell ap
decades. president obama cut his hawaii trip short arriving in washington early today. for now, the house of representatives is not in session but we've learned those lawmakers are set to return this weekend. today the senate majority leader, harry reid, says we've just about run out of time. >> if we go over the cliff, and that's where we're headed, mr. president, the house of representatives as we speak with four days left after today before the first of the year, aren't here with the speaker having told them they'll give them 48 hours notice. i can't imagine their consciences, out wherever they are around the country and we're here trying to get something done. >> we're awaiting reaction from the senate minority leader, mitch mcconnell. when that happens we'll go live to the senate floor but a spokesman for john boehner says senator reid should talk less and legislate more. the house passed legislation to avoid the fiscal cliff. senate democrats have not. if the president and lawmakers cannot reach a deal in the next five days, automatic tax hikes and major spending cuts are set to kic
. >> aloha, hawaii. the president is on his way back to d.c. where for him it's about playing small ball with most members of congress still in their home district, speaker boehner put that ball in the senate's court. harry reid tossed it right back. are we looking at another lost day in the negotiations? hitching a right on air force one, the new senator from hawaii and it's not what we expected it to be. here we go again. the president in washington and another deadline. secretary geithner warns we will hit the debt ceiling even before we tumble over the fiscal cliff. good morning from washington. it is thursday, december 27th. this is "the daily rundown." i'm luke russert. two days after christmas and washington is back to work trying to harsh out a deal to avoid the fiscal cliff. the senate will get back from the session after holiday break. the president is expected to arrive back to the white house without his family to get back to twork mework to meet the loo deadline. mike is at the white house. let's start with you. the consensus around the hill is that we are more likely than n
. the president meanwhile is in hawaii and won't be returning until tomorrow. now, normally nothing happening would not be big news in washington. nothing happening is kind of the status quo in washington. getting nothing done is to our political system as saying great is to tony the tiger. it's just kind of what we do now. right now, this week, nothing happening is huge news. the reason is that usually when washington doesn't do anything nothing happens. you do nothing, nothing happens. that's how it goes. in fact that's why people call it doing nothing. after you do it, nothing occurs. if washington doesn't do something, a lot happens. all the bush tax cuts expire, the payroll tax cuts expire. doctors participating in medicare, see their reimbursements cut by more than 25%. good luck getting a doctor then. more than a trillion dollars in spending cuts are triggered. the economy probably falls back into recession, and merry christmas and happy new year from washington to you, the american people. heard about the offers and the counteroffers president obama and house speaker john boehner put
plan. >> reporter: obama leaves his tropical retreat in hawaii for a wintry washington, tension on capitol hill is on high. >> i don't so how you could hammer out any kind of a grand bargain or large plan involving tax reform and entitlement changes in a matter of days. >> reporter: serious doubt is setting in. even starbucks is getting involved, writing "come together" on its cup. speaker john boehner says he's sitting this round out after failing to get enough house republicans to support his own plan just before christmas. >> i think boehner is being controlled unfortunately by the right wing. >> reporter: that leaves it up to majority leader harry reid and the rest of the senate to find a possible solution. aides say reid's plan would avoid tax increases for people making less than $250,000, eliminate big spends cut and restore unemployment benefits. >> i think you're likely to see a two-step process here. one sort of dealing with the immediate dynamic so you can deal with the larger situation. >> reporter: without a deal, bush era tax cuts will expire january 1st and deep s
in hawaii. cnn's brianna keeler is there. brianna there is no official word when he is coming back to the mainland, as that fiscal cliff deadline gets closer what do you think will happen out there as the week rolls on? >> reporter: well, miquel, it's hard to believe that president obama would not at some point come back to washington it is not officially on his calendar at this point but he has obviously come out here for christmas break while congress is away from washington as well and it is, of course, a little bit of a working vacation for him, as the white house tries to work something out with senate democrats, some sort of package to avoid these tax hikes for middle class americans here tend of the year. that's something, of course that will require some buy-in from senate republicans to pass. and it seems that unlikely that senate minority leader mitch mcconnell would want to negotiating? that he doesn't feel will be able to also pass the house, which would require the support of some house republicans and that's part of the reason why this is such a difficult task and it
the final results in just a few hours. >>> hours ago hawaii senator daniel inouye was laid to rest. he represented hawaii in washington for more than five decades, ever since hawaii became a state in 1959. the 88-year-old senator was also a war hero. he lost his arm in world war ii. president obama and the first lady attended today's funeral in hawaii. obama has said inouye was his earliest political inspiration. >>> we are not going to budge. that's the message from the national rifle association. making it clear today its opposition to any new gun laws in the wake of the connecticut shooting. the group's ceo is standing by remarks he made at an event on friday. cnn's barbara starr has more on the debate that dominated the sunday morning talk shows. >> newtown. >> newtown. >> newtown. >> newtown. >> how many more? >> reporter: performers and artists now joining with 800 mayors calling for a plan to end gun violence. but wayne lapierre, the chief executive officer and public face of the national rifle association, made clear on nbc's "meet the press" that his organization will oppose l
the holidays in hawaii, his home state. do we know what, if anything, they are doing about that trip? >> reporter: that's not been announced yet, but since the congress is leaving, it would seem -- since the house of representatives, it would follow the president would go to hawaii for a period of time, would be my expectation. he could go sometime in the next few days, and then have christmas with his family, open the gifts in hawaii, and then come back shortly after christmas to try to cobble together a deal quickly before the new year, if that can be done. >> they've got until january 1st to do it. he was in the roosevelt room earlier in the day making a major announcement as well. tell our viewers about that. >> reporter: that's right. he used this opportunity to get one cabinet announcement under his belt. but he waited long enough to let -- it took long enough that susan rice first dropped out under pressure. that left john kerry as the last one standing and it's clear here at the white house the president and his aides expect kerry's confirmation to go very smoothly. you can e
leaders. the full senate reconvened today. the president ended his vacation in hawaii early, flying back to washington this morning. but he made no public statements. if there is no deal on a budget by new year's day, nearly every american will see a tax increase. we have two reports on the stalemate, beginning with nancy cordes on capitol hill. nancy. >> reporter: jeff, democratic aides tell cbs news that senate majority leader harry reid is ready to introduce legislation that would avert the fiscal cliff, but only if he gets assurances from republican leaders that they won't try to block it. that standoff is creating some tension on capitol hill that spilled on to the senate floor today. >> the senate will come to order. >> reporter: in the normally genteel senate, leader reid unleashed a tirade today about house speaker john boehner, accusing him of running a dictatorship in the house. >> speaker boehner is not willing to negotiate. we have not heard a word from leader mcconnell. nothing is happening. >> reporter: mitch mcconnell, the top republican in the senate, said it's reid who h
brown remembers the life of war hero and medal of honor winner daniel inouye, the senator from hawaii who was third in line to the presidency. >> ifill: and we close with the story of a message of hope and healing from the late fred rogers, in a 34-year-old photo that's gone viral. >> woodruff: that's all ahead on tonight's newshour. >> major funding for the pbs newshour has been provided by: moving our economy for 160 years. bnsf, the engine that connects us. >> and by the bill and melinda gates foundation. dedicated to the idea that all people deserve the chance to live a healthy, productive life. >> and with the ongoing support of these institutions and foundations. and... >> this program was made possible by the corporation for public broadcasting. and by contributions to your pbs station from viewers like you. thank you. >> woodruff: the white house had a new proposal on the table today in the fiscal cliff negotiations. house republicans said it fell well short, but the two sides kept at it, hoping to avert across-the-board tax hikes and steep mandatory spending cuts in 2013. >>
daniel inouye of hawaii. his remains have laid in state in d.c., and in the state capital of allied. next, from the rotunda, john boehner, vice-president biden, and others. >> let us pray. gracious god, sovereign lord of history, thank you for the exemplary impact of senator daniel ken inouye on our national history. lord, we are grateful for the excellence that distinguished his significant career, for the quiet grace and dignity with which he represented the aloha state, and for the gift of discernment that enabled him to serve you faithfully for the good of america. as we express gratitude for the laudable footprints he left in the sands of time, give us your power to persevere in promptly doing what is right. made the memory of senator inouye's indefatigable faithfulness provide a benchmark for the lives of all labor for liberty. lord, intensify our dedication to make sacrifices for the good of our nation and world as we put our trust in you to do for us immeasurably, abundantly, above all that we can ask or imagine, according to your power, he working in and through us. -- more power
for the holidays and left for hawaii without a deal in place. with nine days left now, is it too late? remember the house budget committee marcia blackburn joins us now. congressman thank you for joining us. >> sure. >> before we get underway, i would love to play for you. play for you right now the president's words just before he departed on his hawaii vacation. here he is. >> so as we leave town for a few days to be with our families for the holidays, i hope it gives everybody some perspective. everybody can cool off. everybody can drink some eggnog and have some christmas cookies and sing some christmas carols and enjoy the company of loved ones. >> and then, congressman, just after he said that senator jeff sessions of alabama said this, and i shall quote, president obama today gave another speech about the fiscal cliff, no plan, nothing that can be scored or analyzed, just another speech. if president obama wishes to avoid the fiscal cliff then he with all of the power and influence he holds as the leader of this nation must submit to congress in legislative form a plan that he believes c
week. >> dana: we'll see him in hawaii. >> eric: yeah, yeah, yeah. >> greg: he spoke a lot about common ground and doing it together. is that his way of saying agree with me? >> eric: can i make a point before mr. beckel says he had a deal, he talked to reid and will come and announce a deal. shining armor. right off the sun -- ride off to sunset to hawaii. had nothing, did nothing. all he did is come to the podium i talked to reid and boehner, i'm out of here. going to hawaii. >> bob: you haven't spent much time negotiating in washington. if you don't think there is a deal done by december 31 -- why would he talk to boehner? >> kimberly: he has to. >> bob: to go to hawaii? >> kimberly: yes. >> eric: before he goes, everyone on the right will say why -- >> bob: they had -- >> eric: why go hawaii? >> bob: reid, here are the parameters. boehner, we'll sell this. deal by 28 or 29. >> kimberly: demonize republicans to say he would meet them halfway and number of instances. look, i'm presidential and i am showing leadership. they're intractable. they are the bad guys, i'm good guy and aloha.
to hawaii, president obama said he met individually with leaders of the house and senate, asking them to work toward a package that prevents a tax hike on middle class americans. >> this is something within our capacity to solve. it doesn't take that much work. we just have to do the right thing. so call me a hopeless optimist, but i still think we can get it done. >> earlier in the day, speaker boehner held a news conference. a vote on his so-called plan "b" was scrapped thursday night when it became clear it did not have enough support among house republicans to secure passage. >> a situation where because of the political divide in the country, because of the divide here in washington, trying to bridge these differences has been difficult. if it were easy, i'll guarantee you this would have been done decades before. >> joining me now, congressional reporter for "the washington post," ed o'keefe. good to see you. >> good to see you too. any kind of realistic timetable that this will be done before january 1st? >> what the president is most concerned about now, making sure unemployme
in d.c. a few hours ago after scrapping the rest of the holiday vacation in hawaii. before his departure, the president called all four congressional leaders, reid, mcconnell, boehner and pelosi. now fiery words after reid hit boehner with volley after volley from the senate floor earlier today. >> if we go over the cliff and it looks like that's where we're headed, mr. president, the house of representatives as we speak with four days after today aren't here with the speaker having told them they'll have 48-hours notice. i can't imagine their conscie e consciences. >> speaker boehner's office responding with a terse statement saying in part, quote, senator reid should talk less and legislate more. the house already passed legislation to avoid the entire fiscal cliff. senate democrats have not. joining me now from d.c. nbc news white house correspondent peter alexander. peter, there was word the last hour that the president may have sent some sort of deal. the white house then turning around saying that's not true at all. where was the confusion? >> reporter: well, you hear th
hawaii. we got a new united states senator, senator tim scott. he will be congressman now from south carolina. the first black in the united states senate and will be the only african-american in the united states senate. the first black from the south since 1901. that's the good news. bad news is he has every bit as tea party crazy as jim demint whose place he takes in the senate. we'll bring you more about that and a whole lot more but first here's the latest, today's current news update, lisa ferguson's got it out in los angeles. hi lisa, good morning. >> hey bill. good morning everyone. president obama has another light day on his schedule today. just an afternoon meeting with defense secretary leon panetta. that's after a new fiscal cliff offer is now on the table showing he and speaker boehner could be closer to reaching a deal. the two met at the white house for about 45 minutes yesterday. last night president obama laid out a new compromise. a couple of details for you. the about the has dropped his
, people of hawaii, and all americans in paying final respects to an american patriot and hero. senator ioway was one -- inouye was one of the deluxe senators to ever walk the hallowed halls of this great building. he leaves behind a legacy of public leadership and private kindness that will not be forgotten as long as these walls stand, as long as histories are written. it's fitting he should lie in state beneath the enduring symbol of our democracy, the dome of the capitol. and it's proper he should rest upon the lincoln platform upon which abram ham lincoln, president john f. kennedy, rosa parks, and 26 more of this nation's luminaries have lane in state. -- layne in state. dan inouye was an institution and deserves to spend at least another day in this beautiful building in which he dedicated his life. as the second longest serving senator in our history, dan inouye represented our 50th state from the first day it was admitted to the union. but senator inouye's tradition of service began long before he came to the united states senate . he was just a boy when he heard the war planes
>> bob: yesterday, senator from hawaii, excellent man who died and yesterday he was lying in state. at the capital. there is a picture, poignant one of bob dole, the former senator from kansas. a great man. who was standing -- do we have the picture of dole? standing at the casket, saluting. they are two great americans. it wish him -- i wish him a great trip to heaven and bob dole, a wonderful human being. >> kimberly: that's it for us at "the five." set the dvr for the christmas special monday at 5:00 p.m. eastern. for all of us travelling home for the holiday. have a great trip. good night, everyone. >>> this is a fox news alert. i'm john roberts in for bret baier this friday evening. president obama came out moments ago to address the fiscal cliff. saying he still thinks a deal could happen. but that now is not the time for self-inflicted wounds. this is after house speaker alternate way out didn't make it to a vote in the house. we have fox team coverage. ed henry focuses on a tale of two white houses with messaging. but first, mike emanuel looks at where the republican goes f
before leaving for hawaii leaving room for negotiations? what are we talking about? set it up. >> the president is heading back to washington to attempt a last ditch effort with speaker boehner to forge compromise to avert the fiscal cliff which will kick in in about six days if nothing's done. those are the headlines. everyone talking about cutting his vacation short. the question is there anything that can be done? they were at an impasse before christmas, the republicans and house imploded and it's a tight spot. i suspect if there's a deal, it will be unpalatable for everyone. >> there was a interchange before the talks broke down. we have the quotes. john boehner said to obama, quote, i put $800 billion in tax revenue on the table. what do i get for that? allegedly we understand president obama came back to him and said, you get nothing. i get that for free. you get nothing. >> there were a couple eye-opening quotes. a "wall street journal" story before christmas that went through the timeline of how this happened between painer and the president -- boehner and the preside
native hawaii for a short christmas break. we'll have a live report from hawaii and the latest on the fiscal cliff talks a few minutes as well. >>> it's official. bp oil company will pay up to the tune of $7.8 billion. that is a class action settlement amount they agreed to pay, about 100,000 businesses and individuals hurt by the biggest oil spill in american history. a federal judge formized the settlement yesterday. a lot of gulf coast residents opted out of the class action suit and are pursuing lawsuits on their own. >>> in egypt today, more effects of a brand-new government's growing pains. the vice president is out. he is stepping down there. this man, mahmud mechanicy announced political life does not agree with him, and he'll go back to being a judge. it's the same day the egyptian people are voting for a second straight weekend on proposed changes to the country new islamist backed constitution. egypt's new president gave himself near absolute power. >>> a former u.s. marine who spent four months in a mexican prison is free today. jon hammer was locked up in august on
from hawaii. brianna keilar is traveling with the president. she's going to join us live. that's 25 minutes from now. >>> u.s. senator michael crapo s says he's deeply sorry for driving under the influence of alcohol. the republican who is also a mormon was pulled over, tested and arrested after running a red light early yesterday morning in virginia. he says he made a mistake and deal with whatever penalty he is given. >>> the u.s. navy seals are again mourning the loss of one of their own. a military official tells cnn that commander job price died of a self-inflicted gunshot wound. price was a commander officer of seal team 4, that's the unit with more than two dozen members that operates in central afghanistan. the official says there's no indication at this point that price was under any investigation or involved in any controversies. >>> former republican senator chuck hagel has not been nominated as defense secretary, but members of his own party already signaling an uphill confirmation battle if he is. barbara star has more on in surprising backlash. good morning to you. i t
a deal. >> aloha, hawaii. >> to my republican colleagues, the ronald reagan model is if you get 80% of what you want, that's a pretty good day. >> they were this close. they were this close to a solution. >> he's going to get tax rate hikes. >> are we going over the cliff? >> i believe we are. >> be republican and be conservative and pass a bill that cuts tax. >> boehner has no control over his extreme right wing faction. >> should anybody's taxes be raised at this point? answer yes or no. >> no. no. ♪ >> we begin as president obama and the senate head back to washington set for one last effort to avert the first fiscal cliff. aloha means good-bye for the president as he packs bound for the white house tonight. the president cutting short his vacation leaving michelle and the girls behind as he gets back to work to try to prevent tax increases and spending cuts due to begin next week. there's just one problem. it appears there would be no house republicans to help hammer out a deal. the gop leadership has not yet called their members back to d.c. and will not be in session tomorr
cliff deal but is something he said before leaving for hawaii leaving room for negotiations? what are we talking about? set it up. >> the president is heading back to washington to attempt a last ditch effort with speaker boehner to forge compromise to avert the fiscal cliff which will kick in in about six days if nothing'ss done. those are the headlines. everyone talking about cutting his vacation short. the question is there anything that can be done? they were at an impasse before christmas, the republicans and house imploded and it's a tight spot. i suspect if there's a deal,t will be unpalatable for everyone. >> there was a interchange before the talks broke wn. we have the quotes. john boehner said to obama, quote, iut $800 billio i tax revenue on the table. what do i get for that? allegedly we understand president obama came back to him and said, you get nothing. i get that for free. you get nothing. >> there were a couple eye-opening quotes. a "wall reet journal" story before christmas that went through the timeline of how this happened between painer and the president -- boehner
the president on vacation in hawaii basically no progress. they understand that rea. eric: when did you know he was going to come back? >> we knew two or three days it was likely he was going to comel back. he wanted to spend family time yesterday and go to the marine base because it was a christmas vacation to thank the troops but they knew pretty quickly was going to have to get back. he is here in sunny hawaii. not just taxes going up, 2 million people unemployed are about a to lose their employment insurance if there is no deal here. the final point i make, ats white house official the president is's going back now tonight, what is on his agenda, what did he dotl differently he couldn't do on the telephone in hawaii?th they have nothing on the schedule yet, they don't know if he will ringleader bring leadere white house.e does he wait until friday? the bottom line is the clock is ticking every single leve levere president has pulled has not worked. eric: thank you very much. the president reported i get that for c free comment, grover norquist joins us now. let's stay on this other thing. t
: president obama making remarks at funeral for former late hawaii senator daniel inouye. >> he would remain my senator until i left hawaii for college. now even though, even though my mother and grandparents took great pride that they had voted for him, i confessed that i wasn't paying much attention to the united states senate at the age of 4 or 5 or 6. it wasn't until i was 11 years old that i recall even learning what a u.s. senator was or, it registering at least t was during my summer vacation with my family. my first trip to what shows of us in hawaii call the mainland. so we flew over the ocean and with my mother and my grandmother and my sister who at the time was two, we traveled around the country. it's a big trip. we went to seattle and we went to disneyland, which was most important. we traveled to kansas where my grandmother's family was from and went to chicago and went to yellowstone. and we took greyhound buses most of the time and we rented cars and we would stay at local motels or howard johnson's. and if there was a pool at one of these motels, even if it was just tiny, i
have to do the right thing. >> aloha, mr. president. he's in hawaii and congress is back home. when will there be a bargain to avert this fiscal cliff? >> the only way to stop a monster from killing our kids is to be personally involved and invested in a plan of absolute protection. >> the nr appeals a kickback after a group calls for more guns in schools to protect our kids. we'll talk to a mother, herself a victim of gun violence and an organizer with 1 million moms for gun control. >> they can keep pushing us and bumping us and moving us back. >> it's the holidays, you want to get home, but at the same time, what are you going to do? >> on this holiday weekend, thousands of flights delayed and we're watching that as the winter stom wallops the midwest and good day to you. i'm richard lui. the stalled fiscal cliff debate and the january deadline now just ten days away. president obama and his family are vacationing in hawaii and congress is on holiday recess after no new breakthrough and both sides are holding out and they'll be able to reach a deal. >> call me a hopeless optimist
. >>> december 28th will be the day the democratic party of hawaii decides who will fill their senate seat. but this morning we have more details on what the late senator himself wanted to see happen. in a just-released tlee ed lett hawaii's governor, inouye wrote, i respectfully request that u.s. representative colleen hanabusa succeed me and continue the work together with mazie on behalf of hawaii in the u.s. senate. i have no doubt that she will represent hawaii with the same fervor and commitment that i brought to the senate chamber since 1962. i hope you will grant me my last wish. he will lie in state in the capitol rotunda today. we're expecting his remains to arrive any minute now right there on the capitol. we'll bring that to you live later this hour. - more washington gridlock. no, it's worse -- look, our taxes are about to go up. not the taxes on our dividends though, right? that's a big part of our retirement. oh, no, it's dividends, too. the rate on our dividends would more than double. but we depend on our dividends to help pay our bills. we worked hard to save. well, the p
with the president and joins us from hawaii. >> they can still talk, right? true. but the people who matter are not. perhaps the lines of xhoukz are open between the white house and senate democrats. but the white house at this point is not in discussion with not only speaker john boehner but the senate minority leader, mitch mcconnell and perhaps because of that, you have some of that pessimism of senator liberman being shared by republicans. >> when i listen to the president, i think the president is eager to go over the cliff for political purposes and sees a political victory at the bottom of the cliff. gets additional tax revenue, gets to cut the military which democrats have been calling for for years and blame republicans for it. >> now, all eyes are now on the senate, which will reconvene on thursday. seen as likely that president obama will head back to washington from hawaii here. senate minority leader harry reid has the task of trying to conjure up something that might be able to pass the house in addition to the senate publicly. the white house is saying they want tax rates to remain i
. the president pulled the plug on his holiday trip to hawaii and arrived in washington shortly after 11:00 in hopes of prodding congress to lock in taxes for all but the wealthiest 2%. so a republican source told us he would be sending legislation to capitol hill, but the white house is telling us no, that is not the case. you have the president there at the white house. you have the senate in session and they are scattered throughout the country and taxes are going up on january 1st. let's listen to harry reid. he is not happy about the house and being away. he is the top senate democrat. >> we are here in washington working. we have the house of representatives out watching movies and watching their kids play soccer and basketball and doing all kinds of things. they should be here. >> here's a reality. reid said it's beginning to look to him as though we will plunge over the cliff come tuesday. they are keeping an eye on washington to see what develops. since it looks as though we are headed for higher taxes, i want to bring in terry savage, a personal finance expert for the chicago s
honolulu, hawaii where the president and first lady have just arrived. hundreds of hawaiians started gathering saturday to welcome the senator home and pay respects. inouye was a recipient for the medal of honor for his braver. kristen welker joins me now from honolulu. a warm christmas, i see. >> reporter: yes indeed. it is lovely here. >> the president is on christmas vacation and so is congress. that doesn't mean they don't have work to do as the fiscal cliff looms. i take it this is a working vacation. >> reporter: white house officials have described this as a working vacation and talks are going on behind the scenes between white house staffers and hill staffers. the reality is the bulk of this probably won't get done until after christmas when lawmakers are expected to resume negotiations. there is a lot of frustration especially among senior members in both parties in part because president obama, house speaker john boehner seem so close to getting a deal done. they were really close on taxes and entitlement reform. we saw that last week house speaker john boehner couldn't ge
christmas vacation in hawaii. congress is back in town, but little progress was made over the holiday to avoid the fiscal cliff and no talks have been set. the senate is due in session today, but the house has no plans to reconvene. last week, house speaker john boehner said it was up to the house to act on extending unemployment benefits. as we work through all of this, we are happy to be joined by allen capper, head of credit strategy at lloyd's for the hour. welcome back. i guess we're still shaking off the christmas turkey tryptophan, i guess they call it, and yet it feels as though it's groundhog's day. >> yes. you say shaking off the christmas blues and we're shaking still waiting to hear what happened with this fiscal cliff. we knew they would take it to the wire. there's no surprises. what concerns me, this may stretch on until january. now, this is not the first time we've been in a situation like this in my career in the markets. the opportunity is clearly markets may sell off and then an accord has to be reached. i guess a lot of people will be seeing that. >> what are you
spoke at the white house friday before leaving for hawaii where he is now. but at the same time the president acknowledging there might not be time for any kind of a grand bargain. he scaled back his goals and pushing not for the big deal, but for middle class tax cut and extended benefits. a larger deal wouldn't be that hard to reach. >> what we ought to do is take speaker boehner's last offer, the president's last offer and split the difference. that would be a package of about $2.6 trillion. you couple that with the 1.1 trillion that will be done. that would be close to the $4 trillion needed to stabilize the debt and to begin to bring it down. >> and if no action is taken by the end of the year taxes go up for everybody. back to you, eric. >> we have to see. the clock is ticking. >> tick, tick, tick. more on the fiscal cliff negotiations. i am joined by congressman peter king from new york who is involved. congressman, great to have you here. >> great to be here. >> happy holidays. >> happy birthday. >> have i to ask you, what are you doing home when we are approaching the f
to the lodge-time senator from hawaii. senator inouye lost an arm in world war ii and represented hawaii in congress for 50 years. the 88-year-old senator died monday from respiratory complications. his body will be returned to hawaii tomorrow. >>> time now just turning 5:17. a former u.s. marine praised for voluntarily guarding a school apparently lied about his military service. monday craig showed up to hughson elementary school and stood guard. he said he was a sergeant in the marine reserves and deployed to afghanistan. but the marines say he never served overseas and discharged as a private after serving nine months. some of the parents say the school should have performed a background check. >> yust to make sure that they are who they say they are. because anybody can do it. anybody can do it and they be doing just to take advantage and then something. something very bad could happen. >> he told the marine corp times he had been misquoted by the medesto bee but the medesto bee stands by their story. he did apologize. the marine corp has not said if he will face any kind of preproc
posturing. president obama is flying back to washington tonight from his christmas vacation in hawaii to make one last attempt to get a deal before midnight new year's eve. the senate is returning and will be in session tomorrow for the same purpose. senate majority leader harry reid is trying to determine what kind of bill he can get through the senate with limited republican support. meanwhile, governor neil abercrombie of hawaii tonight announced that lieutenant governor brian schatz is as fit to feel the seat of the passed senator daniel inouye. he will leave hawaii for washington tonight and is expected to be sworn in sometime tomorrow afternoon. the democrats are wasting no time in the event harry reid needs the vote to avert the fiscal cliff. but the house? a different story. speaker john boehner held a conference call with republican leadership today, and basically decided to do nothing. there are no immediate plans to return to washington. even as that decision is made, how members have 48 hours to get there. house republican leadership released a statement today reading in p
. >>> president obama is arriving right now in washington, d.c., coming back from hawaii, trading his tropical vacation for the hard reality of the fiscal cliff negotiations. the president called all four congressional leaders last night in an effort to reach a deal, but did that call fall on deaf ears? jared bernstein, former chief economist to vip biden, as well as a contributor. i want to start with the new statement from senator mitch mcconnell's office coming out says last night he called other lead serious. the leader is happy to review what the president has in mind, but to day date the majority has not put forward a plan. jared, is that good they're actually speaking, however far apart as it may sound, at least they're talking? >> it's a bit good. better to be talking than north. the unfortunate thing are the words they're saying. i don't hear much compromise or kind of conciliation in the statements we've heard thus far. i do hear a lot of theatrics, you go first, no you go first. it's strange to say the democrats haven't put forth any legislation on this, because in fact they have. i
. appreciate your time. >>> president obama in hawaii with his family and fiscal cliff negotiations remain at this stand still. but could the president cut that trip short? we'll investigate after this. >>> hi. i'm commander ayers here in afghanistan. i wanted to say to my mom, dad and sister in melbourne, florida, happy holidays and i love you and miss you. see you soon. [ male announcer ] how do you trade? with scottrader streaming quotes, any way you want. fully customize it for your trading process -- from thought to trade, on every screen. and all in real time. which makes it just like having your own trading floor, right at your fingertips. [ rodger ] at scottrade, seven dollar trades are just the start. try our easy-to-use scottrader streaming quotes. it's another reason more investors are saying... [ all ] i'm with scottrade. >>> here's a look at the stories topping the news for you right now. two firefighters have been killed, two others being treated for gunshot wounds after they were fired upon responding to a fire in upstate new york happening in the town of webster this mornin
right to adam shapiro for that. >> we heard senator daniel inouye from hawaii has passed away. he would have been the longest serving senator in the united states if he lived just two more years. he passed away with his family by his side. his last words were aloha. recently he was asked by a reporter what he wanted to be remembered by and he said, quote, i represented the people of hawaii and this nation honestly and to the best of my ability. i think i did okay. daniel inouye, world war ii veteran, medal of honor resipient has passed away, the senator from hawaii is dead. melissa: our hearts go out to his family. thank you so much, adam. >>> shifting gears now a lot of you watching are probably sick and tired, like i am, of all the extra charges and overall insanity what is happening with plane tickets. charges to check your bag outside at the count ir. charges to carry on your bag, that one kills me. another to get extra leg room. yet more if you have to change your flight. american airlines may set a new standard. different ticket price options for one lump sum you can pay all the e
left for hawaii he had a meeting at the white house with senate majority leader harry reid and seeing both sides dig in on what they want and i think the smaller package, at least before new year's or right around the beginning of the year is probably the best to hope for. right now they're running out of time. lawmakers aren't returning to town, most of them, until tomorrow. the president won't be back until tomorrow and while most rank and file members won't be involved in the day-to-day negotiations of whatever this deal might be, they're going to have to vote for it. you saw right before christmas, speaker john boehner tried to move his own independent plan to raise taxes on income levels over a million dollars and he wasn't able to do that successfully. and i think it was a big sign about the difficulties he'll have even wrangling the majority of his caucus and so i think in order to get something done, anything done, to make sure that taxes don't increase on middle class americans, to make sure that the spending cuts don't start immediately, a lot of lawmakers are leary of them
to negotiate. president obama left hawaii early this morning, expected to land in washington next hour. senators will also be back, trying to craft a bill. we expect to hearing from him on the floor in moments. the house is still home. they'll hold a conference call with members today. to make matters worse, you say oh by the way, you'll hit the debt ceiling on monday. we also have ryan grimm. yeah, you. there you are. >>> it looks like they're pointing -- >> and politicians, and so what we're sealing is -- for deficit reduction. and spend seg cuts off their shoulders, and make it inevitable, saying, you know what? it didn't just happen to them. they pass the sequester, which contained severe, rapid definite at this time reduction. it was almost inevitable, almost the moment they passed the sequester. >> to you, ryan, i was alluding to how both sides are saying different things. two members of the house said this last hour. we had one democrat and one republican. take a listen. >> i think there's still a chance to get something done. that's what happened in the budget deal, i think tha
are we in the usa imitating failure? did you know that california and new york and hawaii are also poised to hit their richest people with a greater than 50% tax rate? isn't that great? emulate france. here now is jim pethokoukis of the american enterprise institute. jim, i thought we wanted to emulate success, not furl. >> i thought so, too. listen, the president wants to run an experiment and see how high we can crank up tax rates in this country without it hurting economic growth. they're already running it in europe, in france, in great britain. the entire european experiment here has been one of tax hike austerity. even though they focus on the spending cuts, you're talking about a high tax area raising taxes even higher. we're trying to to do the same thing here. >> least the brits have the humility to acknowledge their mistake. they took the rate from 40% 050%. millionaires left the island. now they're coming back and dropping it to 45%. at least the brits have some humility. the french don't seem to have any. those socialists are going to go down with the ship. >> they're going to
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